Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Look at What You Are Selling!
>
Reply to Thread
Message:
<p>[QUOTE="Conder101, post: 705862, member: 66"]The submitter probably sent in a roll of 1955-S cents and wrote D on the submission form. Guy unpacking at the TPG just types into the computer what was on the form and the computer prints barcodes. Next guy puts the coins in flips and sticks the barcode on them. Grader scans the barcode and types in a grade. At sealing the guy scans the barcode and the computer prints the label based on the code and what the grader typed in. Coin and label are sealed in the holder. Nowhere along this route has there really been any way to see if the information matches the coin except at the initial data entry. Now if they have a finalizer who checks the finished slab he might catch it, but he is basically checking the grade.</p><p><br /></p><p>As for the seller catching it, we have a whole industry now brought up to believe in the slabs and what the slabs say and I believe that a LOT of coins get bought and sold every day based just on what is printed on the slab label. And this has been going on for some time. I know of a story from years back about a large cent in one of the old PCI slabs. It was a 1796 Liberty Cap in Fine that went through several dealers hands and was finally sold to a very happy collector (With the final dealer insisting that it was undergraded and he wanted VF money.) Why was he so happy? Because none of the dealers had every really bothered to look at the coin, just the label. The coin was actually a 1793 Liberty cap.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 705862, member: 66"]The submitter probably sent in a roll of 1955-S cents and wrote D on the submission form. Guy unpacking at the TPG just types into the computer what was on the form and the computer prints barcodes. Next guy puts the coins in flips and sticks the barcode on them. Grader scans the barcode and types in a grade. At sealing the guy scans the barcode and the computer prints the label based on the code and what the grader typed in. Coin and label are sealed in the holder. Nowhere along this route has there really been any way to see if the information matches the coin except at the initial data entry. Now if they have a finalizer who checks the finished slab he might catch it, but he is basically checking the grade. As for the seller catching it, we have a whole industry now brought up to believe in the slabs and what the slabs say and I believe that a LOT of coins get bought and sold every day based just on what is printed on the slab label. And this has been going on for some time. I know of a story from years back about a large cent in one of the old PCI slabs. It was a 1796 Liberty Cap in Fine that went through several dealers hands and was finally sold to a very happy collector (With the final dealer insisting that it was undergraded and he wanted VF money.) Why was he so happy? Because none of the dealers had every really bothered to look at the coin, just the label. The coin was actually a 1793 Liberty cap.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Look at What You Are Selling!
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...